FXStreet (Córdoba) - The USD/JPY made an U-turn after hitting a fresh 2-week low, having erased almost completely yesterday’s losses after the BoJ decision to keep its policy unchanged.
The USD/JPY came under pressure Thursday weighed by disappointing economic data from the US, but found support a few pips ahead of the 200-day SMA and bounced. The pair bottomed out at 101.60 and climbed roughly half a cent throughout the Asian session to hit a high of 102.08 but failed to sustain above the 102.00 mark for long.
USD/JPY levels to watch
At time of writing, the USD/JPY is trading at the 101.90 area, recording a 0.27% gain on the day. In terms of technical levels, immediate resistances are seen at 102.08 (Jun 13 high), 102.22 (100-day SMA) and 102.38 (Jun 11 high). On the flip side, supports could be found at 101.60 (Jun 12 low), 101.51 (200-day SMA) and 101.42 (May 29 low).